Dow down nearly 175 points on losses in Chevron, Caterpillar stocks

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Shares of Chevron and Caterpillar are trading lower Friday afternoon, sending the Dow Jones Industrial Average into negative territory. Shares of Chevron CVX, -3.90% and Caterpillar CAT, -3.17% have contributed to the blue-chip gauge’s intraday decline, as the Dow DJIA, -0.68% was most recently trading 171 points (0.7%) lower. Chevron’s shares have dropped $3.41, or 4.0%, while those of Caterpillar are down $4.45, or 3.3%, combining for a roughly 54-point drag on the Dow. Also contributing significantly to the decline are Dow Inc. DOW, -2.32%, Travelers TRV, -2.18%, and American Express AXP, -2.06%. A $1 move in any one of the 30 components of the index results in a 6.86-point swing.